7/19/2023 0 Comments Nj transit bus operations![]() ![]() "Organizations like New Jersey Transit are looking for ways to help them reduce their costs without negatively impacting customer service. "We have had several very strong successes helping transit systems improve their parts inventory planning and provide better service to their customers with better parts availability," said Nelson Hartunian, CEO of Smart Software. By automatically identifying the right method for each part, SmartForecasts can significantly reduce the amount of inventory required to meet a defined level of service. SmartForecasts offers unique, patented statistical solutions to forecast intermittent demand, a particularly challenging aspect of service parts management, as well as a complete suite of automated forecasting and planning methodologies. In the second stage, SmartForecasts will be integrated into the day-to-day planning environment at New Jersey Transit. The first stage will focus on using SmartForecasts to identify immediate short term benefits for key groups of parts, as well as measure the likely long term benefits for NJT. Smart Software will implement the NJT project in two stages. Early results with SmartForecasts indicate the potential for substantial savings and service level improvements, once full-scale implementation is complete. Much of NJT's inventory experiences erratic, intermittent demand which is especially difficult to forecast and can lead to significant over- and under-stocking of critical parts. NJT will use SmartForecasts to forecast parts consumption and inventory stocking requirements for its 40,000 active service/spare parts, valued at more than $100 million. NJT is the nation's third largest provider of bus, rail and light rail transit, and links major points in New Jersey, New York and Philadelphia. BELMONT, MA, J/24-7PressRelease/ - Smart Software, Inc., provider of industry-leading demand forecasting, planning, and inventory optimization solutions, today announced that New Jersey Transit (NJT) has purchased Smart's flagship product, SmartForecasts, for its rail and bus operations as part of a company-wide service improvement and inventory reduction program.
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